UPGRADED infrastructure, health services, free education policy, anti-corruption fight and well-performing social security schemes are among factors that helped Tanzania to emerge the best inclusive economy in Africa, it has been revealed.
The World Economic Forum (WEF), through its Inclusive Development Index (IDI), has listed Tanzania the top in inclusive economy among African countries in 2018. It ranked the country the 48th in worldwide grading.
Speaking in an exclusive interview with the ‘Daily News’ yesterday, the Executive Secretary of the National Economic Empowerment Council (NEEC), Ms Beng’i Issa, mentioned other factors that propelled Tanzania to the top as local ownership of businesses and availability of social and financial services.
NEEC is a strategic leader in facilitating, coordinating and monitoring implementation of the National Economic Empowerment Policy that aims at guiding Tanzanians to a strong national economy through an encouraging business environment and fair economic participation. “We will strive to emphasise on local content component to enable our people to benefit from development projects like the standard gauge railway and the oil pipeline from Hoima in Uganda to Tanga port in Tanzania,” said Ms Issa.
She added: “Improved infrastructure has facilitated smooth movement of people and commodities from one place to another and this is among aspects which have enabled ordinary people to be directly involved in the national economy.” Ms Issa added that existence of numerous financial institutions and mobile money services by telecommunication companies have as well played a crucial role in improving financial inclusion among majority Tanzanians.
“Available statistics indicate that 65 per cent of the population have access to financial services by either banks or mobile money service providers…this means our people have active role in the economy,” she explained.
She explained that recent amendments of the mining laws and mandatory listing of telecommunication companies on the Dar es Salaam Stock Exchange (DSE) are other areas which enable Tanzanians to participate in the economy.